This mornings decline in SLV took us right to the top rail of the 5 point triangle reversal pattern. This is an important test of the triangle. The backtest is the last step in confirming whether a chart pattern is valid or not. Below is a 60 minute chart I have been showing since the triangle started forming at the end of September. This backtest was to be expected but now is the moment of truth. The top rail needs to hold or the triangle may fail. So far we have bounced off the top rail but the backtest is still in progress. So far so good

SLV 60 minute triangle backtest.